GreyOrange Secures $135 Million in Series D Funding Led by Anthelion Capital
- ByStartupStory | December 21, 2023
GreyOrange Inc., a pioneer in AI-driven fulfillment automation, has successfully raised $135 million in the first close of its Series D funding round. The investment, led by Anthelion Capital (formerly Cowen Sustainable Investments), underlines GreyOrange’s innovative approach to revolutionizing warehouse and retail store operations through its hardware-agnostic software platform and a diverse range of certified robotic and sensing technologies.
Vusal Najafov, Co-Founder of Anthelion Capital, expressed enthusiasm about GreyOrange’s transformative capabilities, stating, “Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimizes how retailers move their goods across their entire supply chain. Their capability to improve operational efficiency in various settings and their innovative approach in transforming inventory into a more productive asset in warehouses and retail spaces are key reasons for our excitement in leading this funding round.”
The Series D funding round signifies a significant vote of confidence from existing investors, including Mithril, 3State Ventures, and Blume Ventures. This support, combined with substantial capital from previous rounds, highlights the steadfast commitment of these investors to GreyOrange’s mission.
GreyOrange plans to utilize the growth capital to further enhance its technology leadership, accelerate global expansion, and support the widespread adoption of its fulfillment orchestration platform in warehouses, distribution centers, and retail stores.
Akash Gupta, Co-Founder and CEO of GreyOrange, emphasized the company’s commitment to customer-centric innovation, stating, “As we scale our technology and enhance customer experiences and operational efficiency, we recognize that keeping the needs of our customers at the center of our product and solution roadmap has proven essential for our customers’ success, as well as our own. This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space and affirms our thought leadership within this market.”
Ajay Royan, Founder and Managing General Partner of Mithril Capital, praised GreyOrange’s advancements, noting, “GreyOrange’s thoughtful implementation of their pioneering technology has earned the trust of the world’s largest retailers and logistics partners. GreyOrange is leading a major shift in productivity, safety, and novel forms of convenience that will benefit hundreds of millions of consumers.”
The funding comes at a time when the warehouse automation sector is experiencing significant growth. According to the 2023 Gartner Hype Cycle™ for Supply Chain Execution Technologies report, “by 2027, over 75% of companies will have adopted some form of cyber-physical automation within their warehouse operations.” The report also highlights the need for standardized software to integrate diverse fleets of robots from different vendors, a challenge that GreyOrange is well-positioned to address with its cutting-edge solutions.
Follow Startup Story
Related Posts
